Vietnam Just Passed Mexico as America's Biggest Trade Gap

Trade

Key Facts

—The new order. In May the largest American bilateral deficits were with Vietnam ($20.6bn), Mexico ($20.1bn), Taiwan ($19.4bn) and China ($14.5bn), on a balance-of-payments basis.

—The Mexican jump. Mexico’s deficit widened by $5.3bn in a single month, from $14.8bn in April. Its exports to the United States fell while its imports rose.

—China’s fall. The country Washington built its tariff programme around now ranks fourth by monthly deficit, behind two smaller Asian economies and its southern neighbour.